KBC Group NV Decreases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

KBC Group NV lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 345,957 shares of the asset manager’s stock after selling 160,358 shares during the period. KBC Group NV owned approximately 0.16% of T. Rowe Price Group worth $37,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Plato Investment Management Ltd raised its holdings in shares of T. Rowe Price Group by 1.5% in the third quarter. Plato Investment Management Ltd now owns 14,872 shares of the asset manager’s stock worth $1,618,000 after buying an additional 223 shares during the period. Main Street Financial Solutions LLC raised its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Main Street Financial Solutions LLC now owns 3,676 shares of the asset manager’s stock valued at $400,000 after purchasing an additional 124 shares in the last quarter. GHE LLC lifted its holdings in T. Rowe Price Group by 3.4% during the third quarter. GHE LLC now owns 19,680 shares of the asset manager’s stock worth $2,074,000 after buying an additional 640 shares during the period. MQS Management LLC purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $283,000. Finally, Simmons Bank lifted its position in shares of T. Rowe Price Group by 3.1% during the third quarter. Simmons Bank now owns 8,672 shares of the asset manager’s stock valued at $945,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 1.1 %

T. Rowe Price Group stock opened at $119.80 on Friday. The company has a 50-day moving average price of $110.11 and a 200 day moving average price of $112.06. The stock has a market cap of $26.61 billion, a P/E ratio of 13.11, a PEG ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $96.46 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TROW shares. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.